Foster's rejects initial offer from Peroni brewer

22 July, 2011

Peroni and Grolsch brewer SABMiller has made a £6.2 billion offer for the Foster’s beer business.

The approach from the London-listed brewer has been rejected, but analysts believe that the Australian company may accept a slightly higher bid in due course.

The deal would not affect the Foster’s brand in the UK, where it is owned by Heineken. But if SABMiller succeeds in its bid, its portfolio would be joined by brands such as Victoria Bitter, Carlton Draught and Crown lager.

SABMiller chief executive Graham Mackay said: “SABMiller has a proven track record of acquiring and integrating brewing companies in a way which benefits shareholders, employees, business partners and the broader community.

“We aim to strengthen the Foster’s brand portfolio and work with the local team to bring our innovation, global scale and expertise to the business.

“We continue to believe that the proposal price is attractive and offers good value to Foster’s shareholders. SABMiller can conclude a transaction quickly and will continue to seek engagement with the board of Foster’s to put an agreed proposal to Foster’s shareholders.”

This year the Foster’s group demerged its wine division, which is now a separate entity called Treasury Wine Estates.

Bookmark this

Site Search


English wine: a happy harvest for Christmas

All across England and Wales, vineyards are being harvested. Down winding country lanes come armies of welly-wearing conscripts wielding secateurs and buckets, ready to reap the rewards of our vines. Happily they come, their cheeks ruddy with pride. Half an hour later they’re crawling over muddy clods with lacerated hands, drenched in claggy juice and cold sweat, as if ploughing through an endurance race.

Click for more »
Upcoming events


Is blended Scotch overshadowed by single malt in retailers?

  • Yes
  • No
  • Don't know